MarketsFarm — The ICE Futures canola market saw some wide price swings over the week ended Wednesday, dropping by more than $50 per tonne off its contract highs in the nearby May contract before recovering to trade just a few dollars off of those levels once again. Tight canola supplies, strength in world vegetable oil […] Read more
ICE weekly outlook: Canola still finding support
U.S. acreage estimates could sway futures
Richardson to upsize Yorkton canola crush plant
Company to boost shipping and receiving, double processing capacity
Agrifood firm Richardson International’s major canola crush plant at Yorkton in eastern Saskatchewan is set to undergo another round of upgrades which are expected to double its processing capacity. The company on Monday announced it will start work immediately on “facility upgrades and improvements” that would allow it to process over 2.2 million tonnes of […] Read more
ICE weekly outlook: Is a bear market next for canola?
Winnipeg | MarketsFarm — The canola market started to retreat this week as unpriced supplies still in the countryside approach non-existent, according to Wayne Palmer, analyst with Exceed Grain in Winnipeg. For the first half of the week of March 15, canola began to lose strength, particularly in old-crop months. That was highlighted at the […] Read more
ICE weekly outlook: Canola’s correction likely short-lived given tight supplies
MarketsFarm — The ICE Futures canola market ran into a profit-taking correction on Wednesday, backing away from recently-hit contract highs. While a further correction is possible, the underlying fundamentals remain supportive and canola is expected to retain its relative strength to other oilseeds. “The market needs bullish fuel, but it’s just not getting any,” said […] Read more
ICE weekly outlook: Canola back where it started
Day-to-day movements seen as tough to predict
MarketsFarm — ICE canola futures are pretty much back where they were a week ago after losing ground, only to recover by small — and then strong — gains. The May canola contract finished at $765.20 per tonne on Friday and closed Wednesday at $767.30. In between, the lowest close for May was $735.20. That […] Read more
ICE weekly outlook: Profit-taking to pressure canola
Market appearing overdone
MarketsFarm — ICE Futures canola contracts climbed to record highs during the week ended Wednesday as concerns over tightening old-crop supplies provided support. However, the market was looking overdone to the upside and profit-taking came forward to put some pressure on values. “The traders that are still long are playing the game of forcing the […] Read more
Will the future be electric or driven by canola?
New fuel standard will give canola a major boost, but electric vehicles are a rival
Reading Time: 4 minutes Biofuels aren’t the only clean energy game in town, and a hoped-for boost for canola as a biofuel feedstock might be tempered by a surge in demand for electric vehicles. In December, the federal government released details of its Clean Fuel Standard, which ups the amount of biofuel in diesel. That prompted predictions it could […] Read more
It takes money to make money certainly holds true for canola
The price of the two most popular seed varieties has ‘increased significantly’ in recent years
Reading Time: 2 minutes The price of canola seed “has increased significantly over the past few years” and if crop returns stay high, could go up more, says a market analyst with Alberta Agriculture and Forestry. “Based on the average yearly price, a farmer seeding canola at five pounds per acre will incur a per-acre seed cost of $63 […] Read more
ICE weekly outlook: March canola contract not quite out of game
MarketsFarm — ICE Futures’ March canola contract doesn’t have too much to do with the price of the Canadian oilseed directly now but still can influence prices in coming days, according to Keith Ferley of RBC Dominion Securities in Winnipeg. Open interest in the March contract was around 15,000 as of Feb. 17. Ferley noted […] Read more
Funds add to net longs in canola, U.S. futures
MarketsFarm — The large managed-money net long positions in soybean, corn and canola futures increased during the week ended Tuesday, according to the latest commitment of traders (CoT) report from the U.S. Commodity Futures Trading Commission (CFTC). Managed money fund traders were holding a net long position in ICE Futures canola of 43,967 contracts as […] Read more
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